Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 5,658,683 $ 10,977,974
Short-term investments (Note 1) 8,642,648 1,162,904
Prepaid expenses and other current assets (Note 1) 459,396 387,480
Total current assets 14,760,727 12,528,358
Property and equipment, net (Note 2) 2,266,982 2,484,539
Other long term assets, net (Notes 1 and 3) 1,612,160 1,601,894
Total assets 18,639,869 16,614,791
Current liabilities:    
Accounts payable 780,514 613,925
Accrued compensation 148,922 452,878
Accrued expenses 907,732 642,055
Notes and other obligations, current portion (Note 4) 319,771 2,290,292
Deferred revenue, current portion (Note 7) 92,084 79,803
Total current liabilities 2,249,023 4,078,953
Notes and other obligations, less current portion (Note 4) 2,150,608 763,132
Deferred revenue, less current portion (Note 7) 1,290,441 1,081,706
Total liabilities 5,690,072 5,923,791
Commitments and contingencies (Notes 7 and 9)      
Stockholders' equity (Notes 5 and 6):    
Common stock, no par value, 60,000,000 shares authorized; 21,454,380 and 9,954,380 shares issued and outstanding 99,331,585 84,924,133
Accumulated deficit (86,381,788) (74,233,133)
Total stockholders' equity 12,949,797 10,691,000
Total liabilities and stockholders' equity $ 18,639,869 $ 16,614,791